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"Families once housed in imposing domiciles are living in modest rented apartments; in homes that the banks are threatening to take from them; or in simple cottages built originally for week-end outings. Most of them have one car, but it is of inexpensive make, and seldom a current model. A single telephone sometimes serves three families who share the expense, and long distance calls to London, Paris and ships at sea are no longer an indulgence."

Documented in another article on this site (here), a journalist overheard two working men in conversation; one of them remarked:

"The funny thing is the rich are outta luck, too. I don't get that."

Yet, regardless of the degradation of the Great Depression, the United States was still an enormously wealthy nation...

The wealthy were targeted for high taxation...

     


The Formerly Rich (New Outlook Magazine, 1933)

The Formerly Rich (New Outlook Magazine, 1933)

The Formerly Rich (New Outlook Magazine, 1933)

The Formerly Rich (New Outlook Magazine, 1933)

The Formerly Rich (New Outlook Magazine, 1933)

The Formerly Rich (New Outlook Magazine, 1933)

The Formerly Rich (New Outlook Magazine, 1933)

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